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·Define an enterprise resource planning (ERP) system. What business processes are supported by using an ERP? What are the advantages and disadvantages of using an ERP system?

Response:

Enterprise resource planning (ERP) systems are used to allow different functional areas within a company to communicate effectively. Customer relationship management (CRM) is used when companies want to build loyal customer relationships to further profits. ERP and CRM complement each other in different ways. However, ERP and CRM work together in the supply chain to increase productivity and efficiency. For instance a customer orders a product through CRM. This order can then be tracked into the warehouse through ERP for shipping or production of the product. ERP is best used in conjunction with product planning, inventory activities, vendor activities, etc. CRM is best used for sales and marketing.